Pumpers Return To American Graphite Technologies Inc. (OTCBB:AGIN)
In just four months the stock of American Graphite Technologies Inc. (OTCBB:AGIN) has been pumped for the third time. On June 25 we once again started receiving alert emails praising the company and trying to convince investors that there is no better choice. Well, this time around the ticker refused to react according to the plan and dropped by 1% on the first day of touting.
When the stock was first touted it reached such heights as $1.28 but got crushed under the pressure and lost 60% of its value. That didn’t stop the involved newsletters and most of the ones taking part in the current promotion are old acquaintances of AGIN. Hero Stocks and Stock Hunter, both disclosing a $25 thousand compensation, have taken part in all three pumps for the stock. Too Nice Stocks return for the second time but sadly for them now they bagged only $80 thousand compared to the $180 000 they got the previous time. A new promoter that joined in for $30 thousand is OtcMagic.
But investors must have gotten tired of the constant touting and decided to mostly ignore the stock. Faced with the lack of results the people standing behind the promotion must have decided to shed their holdings as early as possible and more than 1.7 million shares were dumped on the market during yesterday’s session. As a result the stock is now sitting at $0.53. In our articles covering the first wave of pumps back in March we discussed who those people might be and most likely still are. So far today there haven’t been any new emails but that may change at any time having in mind that TooNiceStock have been hired for a whole week.
On the financial side of things AGIN have filed a new quarterly report for the period ending March 31 but the numbers show the same picture:
- $131 thousand cash
- $230 thousand total and current assets
- $5129 total liabilities
- ZERO revenues since inception
- $193 thousand net loss
Experienced traders often try to play the pumps but this time even they will find it hard to walk out without significant losses.
Another recent pump had much more disastrous results. African Copper Corp (OTCBB:ACCS) got pummeled to the ground by losing 75% on the first day and have been going down ever since.
But the major news from yesterday’s session is the suspension of Norstra Energy, Inc. (OTCBB:NORX). SEC got suspicious about the accuracy and adequacy of their press releases and decided to step in.